Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.


Fashions amp; LE IS an Upscale Teller that offers high - End fashion products and Excellent customer service to its affluent customers . Fashions...

Clear description of alternative with explanation of financial statement effects with General entry. List GAAP that are relevant

Fashions & LE IS an Upscale Teller that offers high - End fashion products andExcellent customer service to its affluent customers . Fashions RU's normally*operates as an anchor tenant in major shopping malls . Due In Fashions R L``unprecedented success in attracting customer traffic to malls in which it locates .Landlords often offer favorable lease terms and other benefits to attract Fashions & LISto a particular location . Fashions RU's is considering expanding into Ligotham City*Donald Trump*& Sons, a Successful Gotham City landlord , has put together anattractive package designed to entice Fashions & L's In locate it's Gintham City store inTrump & Sons's new mid - town mall . The terms of the deal are as follows :`Fashions R Us receives title to the shell of' " building and land from Trump #`Song . The fair value of this property is $15 million .Fashions R. U's receives $2'S million from Trump*& Sons to partially offset theremaining build - out costs of $30 million .#Fashions & L's is not responsible for paying fell .As there are no rent payments , a formal lease does not exist . There is, however .an Operating agreeingn't that specifics (among other things ; that Fashions RX Us`will operate the location is a typical Fashions & L's store , under the Fashions RX.U's name with minimum Square footage and minimum store hours for a period of"at least 20 years .Fashions RL's retains title to the building after the operating agreement expires .If Fashions R. U's break's the operating agreement , Trong & Sons has an option torepurchase Fashions A LIE's real Estate interest for fair market value less theunamortized cost of the $ 25 million cash incentive.After examining the terms of the agreement offered `` Trump & Sons , Fashions R Usmanagement has agreed to locate its new "inthan City store in Trump & Sons" & mid -town mall .Required .How should Fashions { L's account for the proposed agreement with DonaldTrump & Sons!
Show more
Ask a Question